The California Water Service Group (CWT) has the distinction of being the largest investor-owned U.S. water utility west of the Mississippi River. Based in San Jose, the company has a market capitalization of $823.1M as part of the Water Utilities sector on the NYSE. CWT has paid a dividend to its shareholders every year since 1945.
With five subsidiaries, the California Water Service Group provides regulated and non-regulated water service to over 2 million people in 100 communities in the U.S. The subsidiaries of the parent company operate in California, Washington, New Mexico, and Hawaii. The fifth subsidiary is CWS Utility Services. This California Water Service subsidiary started in 1926 in San Jose, services 460,000 plus customers in the state, and is the largest of the subsidiaries of CWT.
The Washington Water Service subsidiary provides services to almost 300 water systems in the state. This company started in 1999 and has 50 employees. It can trace its beginnings back 35 years to the days of South Sound Utilities and Harbor Water Company. Washington Water came about after the purchase of these two companies in 1999.
The New Mexico Water Service Group came under the CWT umbrella in 2002. This was the result of CWT’s purchase of the Rio Grande Utility Corporation. In 2003, they also purchased National Utility Company, which added to their customer base in the state. In 2003, CWT also formed the Hawaii Water Service Company with their purchase of Kaanapali Water Corporation. This subsidiary services large resorts and condominium complexes in Maui along with other customers in the state.
CWS Utility Services, a subsidiary of CWT, is the only subsidiary not regulated by a state authority. They offer non-regulated contract utility services in California. CWS provides meter reading, billing, customer service, water quality testing, and complete water system operations to its customers.
California Water Service Group continues to offer value to their shareholders. They have maintained regular yearly dividend increases since 1967. Their focus is on developing their employees to serve their customers’ needs better. Through their Continuous Improvement program, employees must spend a minimum of one hour per week as a team member on projects to increase efficiency and better customer service. California Water Service Group continues to flow towards greater profits.
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